Allison Transmission Holdings, Inc. (NYSE:ALSN) Sees Large Increase in Short Interest

Allison Transmission Holdings, Inc. (NYSE:ALSN - Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,130,000 shares, an increase of 31.5% from the March 31st total of 1,620,000 shares. Based on an average daily trading volume, of 822,800 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.5% of the shares of the company are short sold.

Allison Transmission Trading Up 3.9 %

NYSE ALSN traded up $3.66 during mid-day trading on Friday, reaching $97.05. 1,372,990 shares of the stock were exchanged, compared to its average volume of 641,946. The stock has a market capitalization of $8.27 billion, a PE ratio of 11.68 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. Allison Transmission has a 1-year low of $71.49 and a 1-year high of $122.53. The business's fifty day simple moving average is $93.86 and its 200 day simple moving average is $105.42.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The business had revenue of $766.00 million during the quarter, compared to the consensus estimate of $792.18 million. During the same quarter in the previous year, the business earned $1.90 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Allison Transmission will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its board has approved a share repurchase program on Thursday, February 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.11%. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. Allison Transmission's dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley cut their target price on Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Citigroup decreased their target price on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Raymond James reduced their price objective on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird reduced their price target on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Allison Transmission presently has an average rating of "Hold" and an average target price of $97.88.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 1,788 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the sale, the senior vice president now directly owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now owns 14,138 shares of the company's stock, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Trading of Allison Transmission

A number of institutional investors have recently modified their holdings of the company. EAM Investors LLC acquired a new stake in shares of Allison Transmission in the fourth quarter worth $5,766,000. Smith Group Asset Management LLC acquired a new stake in Allison Transmission in the 4th quarter valued at $2,161,000. Allspring Global Investments Holdings LLC raised its position in Allison Transmission by 18.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock valued at $31,643,000 after purchasing an additional 46,435 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Allison Transmission by 14.5% during the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock worth $5,729,000 after purchasing an additional 6,728 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its position in shares of Allison Transmission by 115.6% in the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company's stock worth $1,507,000 after buying an additional 7,479 shares during the period. Hedge funds and other institutional investors own 96.90% of the company's stock.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.

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